Y.S. RANA , Chandigarh–Progressive Lawyers Forum of Punjab and Haryana High Court in association with various banks organized a seminar on “The Challenges in the Banking Sector and the Road Ahead” at Judicial Academy, Sector 43,Chandigarh here on Saturday.
The focus was to discuss the challenges being faced by the banks in dealing with the state administration, wilful defaulters and in terms of recovery of the same which in turn help the economy to grow. The seminar was attended by General Managers/Deputy General Managers and senior executives of various nationalized and private banks, lawyers, Chartered Accountants etc.
The opening ceremony started with lighting of lamp by Justice K. Kannan, Justice Ranjit Singh, Chairman, DRAT, New Delhi, Anupam Gupta, Senior Advocate, . Ajay Vyas, FGM, V.K. Shrivastava, FGM, Ajay Sharma, CGM, Dr. P.M. Ghole, CGM, Nitesh Ranjan, DGM, D.C. Kar, DGM, Bhupinder Singh, DGM, Gaurav Goel, President, Progressive Lawyers Forum.
While addressing the audience Hon’ble Mr.Justice K. Kannan, Judge Punjab & Haryana High Court said that a large number of banks in India were facing significant challenges due to adverse global and local economic environment. As a result, banks in India were saddled with unprecedented non- performing loans on their books. The credit growth also has been negatively impacted signaling conservative outlook by Indian corporates. Globally emerging markets have shown decline in their growth rate, especially in China. India was hoping to sustain the growth rate and offer more opportunities for global investors, added he.
Hon’ble Mr. Justice Ranjit Singh, Chairman, DRAT New Delhi said the issue of non- performing assets has been discussed at length for financial system all over the world. The problem of NPAs was not only affecting the banks but also the whole economy. In fact high level of NPAs in Indian banks was nothing but a reflection of the state of health of the industry and trade. He further said the NPA demon was eating away the Indian economy slowly and steadily as it was making the credit costly and scarce. Unless it was managed effectively and quickly, it would march the financial inclusion as well as infrastructure development in the country, said he.
Mr.Anupam Gupta, Senior Advocate, Punjab and Haryana High Court said that most of the times it has been observed that whenever the banks moved the DM application before the DM’s , it was kept pending over years and years which stalled the recovery process. There should a time bound period in which the concerned authorities shall act, he said.
The seminar was ended on a positive note with all the speakers and participants feeling content and with a ray of hope that this seminar would bring productive output more than the expectation for which this seminar was aimed at. EOM